General admission (GA) tickets, can be difficult to make money on. That is because the market can turn disastrous once resellers start lowering their sale prices. And at that point, it may quickly become a race to the bottom in order to get rid of the tickets you purchased.
While this can be an incredible challenge, there are ways in which you can safeguard your GA purchases.
Things to Consider in Order to Optimize GA Ticket Revenue
Concerts featuring well-known bands or performers can sell out of general admission tickets in a flash. Ticket prices for popular events might go up on the secondary market — the key word being “might.”
The most important aspects of GA tickets are artist popularity, venue capacity, and, of course, pricing.
Tips for Maximizing Your GA Tickets
- Buying your tickets during the presale: By doing so, you increase your chances of earning a profit when the general on-sale occurs.
- Monitor presale popularity: Your goal is to determine if the show is selling out. Scarcity is your friend when it comes to reselling tickets.
- Maintain market awareness: Remember that you are competing with other resellers who paid the same amount that you did for your tickets. Don’t get caught selling your tickets at too high or too low a price. Always price with the market.
- Possibly raise your prices when limited tickets are available: You can significantly raise the price to meet the demand if the event is getting closer and there are limited tickets available — if the market dictates.
Avoiding Possible Dangers
You should make maintaining cheap costs your top priority all the time. If comparable tickets are still available for less money, setting ticket prices too high could result in unsold inventory.
To put it plainly, while reselling GA tickets might be a lucrative business for you, to get the most out of it you will need to study up on the event, buy your GA tickets smartly, price with the market, and perhaps even sell at a loss if necessary.
